haha,I guessed right because I did same funda when I started and burnt my hands very badly.
As per the MM rule,one can trade only 1 lot of NF Fut or 2 lots of NF Options.
Imagine 10points SL you put in a system,how much will be your loss?
10X75X4=3000Rs+Brokerage 500rs(if you are using a discount broker like Zerodha).
This is a very risky practice.I did it and I failed in it.
And from your 2nd query,it looks like you dunno how to do that?? Fir to mere se bhi bura haal ho jaayega Ji.I blow my account 4 times
Best Luck.